Gold holds its own, dropping $1
New York - UPI
Gold prices slid Wednesday, losing $1 to hit $1,714 per troy ounce in New York a day after President Barack Obama won re-election. Equities fell sharply, but gold held its own as a second term for Obama is seen as the best bet for a new round of quantitative easing, which favors traders who stockpile gold beforehand. Silver dropped 37 cents to $31.66 per ounce. The dollar index added 0.17 percent to 80.77 on the International Exchange. The dollar gained against most currencies in Europe, but dropped across most of Asia.
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